Next scheduled update is 4C end of this month. Would be nice if...

Next scheduled update is 4C end of this month.
Would be nice if an unscheduled update dropped prior to that

I think we're all waiting for when we start seeing the accrued T-linx fees start coming in. Unfortunately, from the AGM notes of @tonyabcd (thanks for representing us!) and also from the notes of the last quarterly, I don't think it will be this quarter but am happy to be wrong.

31/10/19 4C notes
3. As previously announced from March 2019 FTC executed a number of service agreements with
member banks of the Rural Credit Cooperative Union in various Chinese provinces which entitles
FTC to earn between with 2 and 3 basis points on the gross value of transactions portalled
through FTC’s patented T-Linx platform. An integral part of the T-Linx system is the T-LinxMerchant connection (consisting of a number of mature solutions ranging from software-only to
installation of various smart POS terminals in merchant premises supplied by FTC) addressing
different operational needs of merchant customers of the engaged member banks.
Every single merchant connected to T-Linx (by T-Linx-Merchant connection solutions) is literally a
transaction entrance for T-Linx. The more merchants connected to T-Linx (by T-Linx-Merchant
connection solutions) the larger the transaction volume passing through the T-Linx platform. FTC
therefore considers that increasing number of T-Linx-Merchant connections will lead to security of
fee income as the technology becomes virtually inseparable from the system within which it is
imbedded. In cases when FTC is engaged in various smart POS terminal sale, such sale revenue
receipt usually takes 3 - 6 months after terminal installation. The reason for the lag is the time
required by the engaged member banks for their payment approval process. Though this will
affect FTC's cash flow in the short-term, in the medium to long-term each installed smart POS
terminal will contribute significantly to transaction volume of T-Linx and hence FTC’s fee income.
Moreover, such POS terminal payment lag will not influence FTC’s fee calculation in 2-3 bps
sharing model, meaning FTC's fee calculation will be commenced immediately once these POS
terminals receive and process payments by merchants.
Under the 2-3 bps sharing model, FTC’s fees start to be generated from a new bank client
immediately after completion of T-Linx implementation and T-Linx-Merchant connection according
to signed contract. In the beginning ‘run-in’ phase, FTC and the new bank client will work together
in tracking and identification of transactions, reconciliation of transactions (down to the cent),
identification of error sources, correction of error sources and re-reconciliation. Once such ‘run-in’
process has been completed as mutually agreed between FTC and the bank client, the bank itself
will commence its payment approval process for FTC’s fees generated during ‘run-in’ phase,
which usually takes 6 - 12 months. The completion of ‘run-in’ phase and first payment will lead to a
mutually accepted fee calculation methodology and fee settlement process, and hence more
regular cash receipt by FTC from a new bank client.
As further Rural Credit Cooperative Union members join, FTC will increasingly receive stable cash
inflows. This will occur through not only organic growth but also because each new bank partner
executes their contract with FTC on different dates so the inflows from those contracts to FTC will
overlap or straddle one another meaning that while one bank is being on-boarded those previously
on-boarded will have been generating transaction fees for FTC.
As previously announced FTC continues to be financially supported (if required at any time) by its
two major shareholders who are associated with executive directors Messrs John Xiong and Louie
Chow during this technology commercialisation phase.”

If you take interest in the company blurb at the bottom of the announcements, they have been updating it throughout last year. Who knows if was accurate at time of update or only updated when they thought of it but increasing number of banks can be guessed:

28/9/18 over 300 banks
3/5/19 over 300 banks
31/5/19 more than 400 banks
13/8/19 more than 500 banks
19/9/19 more than 700 banks

Another way of tracking this would be annc dates:

Hunan 120 banks (17/4/19)
ShanXi 120 banks (1/5/19)
Shaanxi maybe 34 banks (8/4/19)
Xinjiang 3 banks? + 3 more closing deal? (12/6/19)
etc.

So if it usually takes 6-12m for the 'run-in' phase to complete, you can try to guess when this revenue will start to be collected.

Post got longer than I was intending.